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Shopping Strip

Bainbridge Plaza

611 W Golf Rd, Des Plaines, IL 60016

Listing Price: $2,075,000

Cap Rate
8.25%
Gross SF
15,042
Rentable SF
15,042
Price/Gross SF
$137.95
Lot Size
1.02 acres
Year Built
1970

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in Bainbridge Plaza, a 15,000-square-foot retail center located on Golf Road in Des Plaines, near the intersection of Golf and Elmhurst Road. Priced at an 8.5 percent cap rate, this investment should yield a cash on cash return of over 12 percent with upside. The property's endcaps are leased to Domino's Pizza and Suburban Family Dental, a dental practice with an over 30 year history of occupancy at Bainbridge. These anchors help drive traffic to the property. The balance of the tenants are mostly long-term but many are paying below market rent, which provides a new owner with the opportunity to increase their cash flow and create beneficial synergies amongst the tenants. The property has been well maintained by the current owner, who originally built the property and has managed it for the last several decades. The facade was remodeled in 2013, while large portions of the parking lot were replaced last year. There are multiple points of ingress and egress and full access onto Golf Road, a high traffic thoroughfare with over 28,000 vehicles per day. The property is surrounded by large, big box shopping centers and is adjacent to McDonald's, Binny's Beverage Depot, Planet Fitness, Walgreens, and several other large tenants capable of driving traffic to the area. Demographics in the area are very compelling, with over 121,000 people within a three-mile radius and average household incomes of $102,669. This is a rare opportunity to acquire a closely-held retail center at about replacement cost, despite being 100 percent occupied and anchored by two very strong tenants in Suburban Family Dental and Domino's Pizza. Please contact Marcus & Millichap with additional questions about Bainbridge Plaza.

Investment Highlights

  • Well-maintained multi-tenant retail center anchored by Domino's Pizza and Suburban Family Dental -- a 30+ year dental practice
  • 8.5% CAP Rate | 12.82% Cash-on-Cash Return with Currently Available Debt | 17.39% Total Return
  • 100% occupied and priced at replacement cost with a price per-square-foot of $131/SF
  • Long-term tenants with a history of exercising renewal option | Average Occupancy is Over 15 Years
  • Excellent Fundamentals -- multiple points of ingress and egress with full access | Prominent Visibility on Golf Road (+28,000 Vehicles Per Day)
  • The tenants on shorter term leases are paying extremely below market rent | Ability for a new owner to enhance the inherent synergies across the rent roll and raise rents to market

Exclusively Listed By

Financing By

Shopping Strip

Bainbridge Plaza

Listing Price: $2,075,000

Cap Rate
8.25%
Gross SF
15,042
Rentable SF
15,042
Price/Gross SF
$137.95
Lot Size
1.02 acres
Year Built
1970

Investment Highlights

  • Well-maintained multi-tenant retail center anchored by Domino's Pizza and Suburban Family Dental -- a 30+ year dental practice
  • 8.5% CAP Rate | 12.82% Cash-on-Cash Return with Currently Available Debt | 17.39% Total Return
  • 100% occupied and priced at replacement cost with a price per-square-foot of $131/SF
  • Long-term tenants with a history of exercising renewal option | Average Occupancy is Over 15 Years
  • Excellent Fundamentals -- multiple points of ingress and egress with full access | Prominent Visibility on Golf Road (+28,000 Vehicles Per Day)
  • The tenants on shorter term leases are paying extremely below market rent | Ability for a new owner to enhance the inherent synergies across the rent roll and raise rents to market

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in Bainbridge Plaza, a 15,000-square-foot retail center located on Golf Road in Des Plaines, near the intersection of Golf and Elmhurst Road. Priced at an 8.5 percent cap rate, this investment should yield a cash on cash return of over 12 percent with upside. The property's endcaps are leased to Domino's Pizza and Suburban Family Dental, a dental practice with an over 30 year history of occupancy at Bainbridge. These anchors help drive traffic to the property. The balance of the tenants are mostly long-term but many are paying below market rent, which provides a new owner with the opportunity to increase their cash flow and create beneficial synergies amongst the tenants. The property has been well maintained by the current owner, who originally built the property and has managed it for the last several decades. The facade was remodeled in 2013, while large portions of the parking lot were replaced last year. There are multiple points of ingress and egress and full access onto Golf Road, a high traffic thoroughfare with over 28,000 vehicles per day. The property is surrounded by large, big box shopping centers and is adjacent to McDonald's, Binny's Beverage Depot, Planet Fitness, Walgreens, and several other large tenants capable of driving traffic to the area. Demographics in the area are very compelling, with over 121,000 people within a three-mile radius and average household incomes of $102,669. This is a rare opportunity to acquire a closely-held retail center at about replacement cost, despite being 100 percent occupied and anchored by two very strong tenants in Suburban Family Dental and Domino's Pizza. Please contact Marcus & Millichap with additional questions about Bainbridge Plaza.

Exclusively Listed By

Financing By

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